Hi Guys,
I'm new to the site, and have a strange situation come up. I'm hoping people may have come across similar before.
4 apartments were purchased in dubai in 2007, off plan. The apartments should have been completed by Dec 09, with a 90 day potential extension. The block was never even started, and the developer spent time in prison for unpaid monies on the land that the proposed development was stood on. - the land was sold on to be developed by someone else in the last few years. at what stage did this become a loss? is there anyway this could be off set as a capital loss now?
Thank you for any advice.
Lauren
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